World Bank to allocate $100 million for Kambar-Ata 1 construction project
The World Bank to Allocate $500 Million for Kambarata HPP 1 Construction
Bishkek – 21:05, 05 March 2024
The Minister of Energy of Kyrgyzstan, Taalaibek Ibraev, has announced that the World Bank is ready to provide $500 million for the construction of Kambarata HPP 1. This announcement was made during an interview on Birinchi Radio.
Ibraev stated that the World Bank has already allocated funds to update the feasibility study for the project, which was originally completed in 2014. With the passage of time, there was a need to update the study to reflect current conditions.
“After a competition involving 14 companies, three have been selected to update the feasibility study. Financial proposals will be opened on March 11, 2024, revealing the chosen company. Once this is completed, the total cost of constructing Kambar-Ata 1 will be determined. In 2014, the estimated cost was $2.9 billion, but with inflation and increased prices, we anticipate the final cost to be between $4-4.5 billion,” explained Taalaibek Ibraev.
This new funding from the World Bank signals a significant step forward in the development of Kambarata HPP 1 and demonstrates continued international support for Kyrgyzstan’s energy infrastructure projects.
